The Naira’s highest spot trading rate on Wednesday was N1,593/$, while the lowest spot rate was N1,401/$. On Wednesday, the naira climbed on the official FX window while declining on the parallel FX market.
At the Nigerian Autonomous Foreign Exchange (NAFEM) window, the naira closed at N1,459.02/$1, up N61.38 from Tuesday’s close of N1,520.40/$1.
By the end of trade on Wednesday, the parallel market rate had fallen to N1,540/$1, a N5 loss from the previous day’s rate of N1,535.
The daily turnover increased by 124 percent to $289.14 million on Wednesday, up from $128.76 million on Monday. On Wednesday, the highest spot rate was reported at N1,593, while the lowest was N1,401.